In conducting the organisation’s business affairs, PSA lnternational’s Board of Directors adheres to a prudent and strategic approach, considering the everchanging landscape of the industry while taking into account sustainable growth and financial performance.
The Board meets every quarter to assess investment opportunities, and to chart the company’s path ahead. The approval of budgets and audited accounts are carried out on an annual basis. Decisions are made based on a majority voting system. In the event of a tie, the Chairman would cast the deciding vote.
The Board is ably supported by the following Committees:
AUDIT & RISK COMMITTEE (ARC)
The ARC is tasked with conducting regular reviews of the effectiveness of control procedures, in order to identify and mitigate significant risk areas. It assesses the reliability of management reporting, compliance with applicable laws and regulations, and reviews the statutory accounts.
LEADERSHIP DEVELOPMENT & COMPENSATION COMMITTEE (LDCC)
The LDCC oversees leadership development, talent management and remuneration. It puts in place appropriate programmes and consistent policies to groom leaders, develop global talent and ensure the readiness of potential successors to assume key leadership positions. It also conducts performance reviews and approves the remuneration of PSA senior management.
SUPERVISORY AND ADVISORY COMMITTEES (COMMITTEES)
The Committees ensure that PSA’s businesses, Ports and Cargo Solutions are appropriately managed by aligning PSA’s management resources. There are four Committees within the organisation, namely, Ports Supervisory Committee, Cargo Solutions Supervisory Committee, Sustainability & Technology Supervisory Committee and PSA Marine Advisory Committee. Each Committee plans and reviews strategies and approves major capital expenditures, customer contracts, tenders and/or purchase contracts for PSA’s businesses under its business purview.
In every decision it makes and every step it puts forward, PSA holds itself to the highest standards. At PSA, we are committed to conducting ourselves with integrity and accountability, no matter the challenge at hand. All our business and commercial practices are strictly guided by the PSA Code of Business Ethics & Conduct.
